FLP Transferability Restrictions

Over the last 25 years, wealthy individuals have increasingly incorporated family limited partnerships (FLPs) into estate plans. Some of the benefits that FLPs offer include centralization of asset management, dispute resolution among family members, ease of gifting without fractionalizing assets and protection against future creditors’ claims, with the added possibility of valuation adjustments for transfer tax purposes—all attractive features.
As time has passed, the senior ...

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